what's up everybody it's a cole the culturepreneur reporting on behalf of coin market cap and we're
here at d central miami where we're going to be talking to not only your favorite projects but
also some influencers out here they're going to teach you a little bit about the metaverse
a little bit about web 3.0 a little bit about nfts and we're going to talk to it all we're
going to find out what everyone has to say so stay tuned get ready we're going to go down a ride
into the metaverse so come on down with me echo i'll see you guys in a bit
what is a way that you can explain you know what web 3.0 is to the everyday average person in a
simple way i think jack dorsey came up with a really elegant explanation of this um when he
was speaking at a summit earlier this year in the summer he said that if twitter facebook and
youtube were created today they will be totally different companies because of web3 and that's
because if you're financially incentivized uh to grow the community like you actually own a piece
of youtube you own a piece of facebook that's what web 3 is about as people are gain monetary value
the larger the network grows if we had that today then all the social media companies in the world
would not be relying on advertising revenue in order to monetize they would rely on tokenization
and that would change the algorithms that would change the echo chambers that would change a lot
of the problems that we see in social media today because tokenization creates an entirely new form
of monetization that enables everyday people like you and me to really participate in actually
owning a piece of the internet like owning a piece of the stock market i love how you said
that we're owning we're owning a part of the community the network rather than just being
monitored being monetized by it right in your own words could you please define you know web 3.0 as
if like you know you're speaking to a young child or so that anyone could understand got it got it
so i'll just transform this question a bit i'll just define web 1.0 or we'll start with that
so uh you know i'm a bit old uh so i have uh seen uh websites uh which was built on yahoo.com or
jio cities uh that was web 1.0 or just to put it very simply it was one way connection so i
would talk to a website i would say hey can you give me more information about that website and
the website will reply back uh with the uh same information no matter if i'm talking to them or
no matter if aaron is talking to it that was web 1.0 uh then came web 2.0 where in this connection
got bi-directional so uh for example when i log into twitter now uh the twitter uh server replies
to me with my own feed and when aaron will do it it will be a different feed so web 2.0 is about uh
reacting like if i'm a user i'm a different user than aaron is so i'll get a different feed so web
1.0 was static web 2.0 was dynamic but with a servo web 3.0 took it a little bit further
so with this web 2.0 what we had was uh this centralized server and it was a single point
of failure uh people realized very soon like what happens if there's no server instead there
is a group of computers talking to each other and producing the same information out and that
essentially became web 3.0 uh because there's no centralized point of failure and of course uh
information uh is not susceptible to uh damage because i will need uh to change information
on all these computers to basically change the information which is really not possible
and that what makes web 3.0 so versatile and so into blockchain and cryptocurrencies yeah
wow so we went you guys you got to pay attention to that that was a full history lesson we went
from the 90s to the 2000s to the 2010s to now the 2020s right so the evolution of the internet has
taken place at such a rapid pace and uh you know we might not be able to keep up with all of it
but the earlier you learn the better right because now you have an opportunity to not only interact
with the with the web that we you that we're normally used to on web 2.0 now you have a chance
to actually own part of the web and monetize your content and everything on the web using that way
what are some ways that like web 3 and d5 uh can be helped can help prevent uh you know censorship
and technocratic state control of information ideas and content um using like you know d5
and web3 you know this is really a great point and it goes to the heart of decentralization right
with any centralized company you have a ceo and when you have a ceo you have a throat to choke
right you can shut down a company you can send all your lawyers you can try to shut them down
and say you're not of working or you have to change certain things or you have to censor
a certain part of the internet in order to fit to our rules right in decentralized finance or
in crypto in general that can't happen because there is no central owner it is democratized
without hundreds of thousands of users and everything is done through pure democratic vote
and through that you can't go to any one individual and say stop that because everything
is literally done through group consensus and how things are approved and through that way
it's beautiful and elegant because even if you try to shut it down you actually can't
you can't stop bitcoin uh you can't stop in the terr ecosystem ust a decentralized stable coin
anything that becomes decentralized the only thing that stops it is how large the community
is and how large your community grows and that puts the power back into the people
everything going on in crypto you know there's a huge trend going on everyone is looking to
find out what the heck is going on with daos and what is a dao and what do they necessarily do so
i'd just like to ask you know what is a dao like how would you describe it in your own words got
it so dao guys it's essentially democracy think about it as a group of people coming together
uh to achieve a common goal or common vision think about it like how trust operate in real world
or how a company operates in a real world in a company in real world you have shares and
whenever they want to pass on some decision that will be beneficial for their vision uh they have
a shareholder meeting and everyone comes and votes and whenever that vote won uh whatever votes when
that proposal is activated uh now that is uh essentially what happens in a real world
uh with shareholders and uh you know companies when you take it to the digital world when you
take it to the cryptocurrency world uh this term is uh replaced by dao or digital autonomous
organization now why autonomous because now we have uh cryptocurrencies or tokens that we can
utilize to automatically form that proposal and automatically pass it up and the dows which are
formed they basically work again on this common shared vision uh which might be uh let's say
solving environment problems or uh funding public uh public goods or even you know eating a banana
it can be your choice but yeah you'll find uh like-minded people and you'll find this tao
that will work towards that pitching and achieving that vision so yeah yeah and that's the cool thing
about dallas like it's like-minded people all across the world right like it doesn't
matter it's not limited to geography you know it could be people in u.s it could be people in
in in india it could be people in the caribbean it could be people in south america anywhere
across the world right so it's just about like-minded individuals coming to serve a purpose
what do you see are some challenges uh for like you know the metaverse going mainstream because
you know with like uh meta for example coming out like you know some people might confuse the two
right so what would you say are some challenges for the mainstream audience to get uh familiar
with the metaverse that's a great question aaron thanks so some challenges i foresee with
the mainstream adoption of nft based economies um well first and foremost user experience and
accessibility and usability so making it so anybody can sign up rapidly and easily and it's
like a web 2.0 experience which a lot of folks are used to using where they sign in with like
a pre-existing account or an email and password that's super important just to bring in the masses
because key management and blockchain security is difficult and you know that's something you
got to learn over time so we need bridges to allow people to get in in a non-intimidating
manner beyond that it's an education piece as well because if someone sees something flashy and fun
like maybe a meta product they may just jump in and not ask deeper questions so really
we're in a race against the clock to educate millions hundreds of millions of people on why
users and people need to own these metaverses rather than these companies so those those are
big challenges education and accessibility i'd say are the biggest so education is always key
especially in this space uh because now we have the opportunity especially in cryptocurrency
we're front running the big companies right like we're ahead of them they're looking at
us kind of like saying oh uh let's peek around the corner what are they up to and they're watching us
because they really don't know what's going on right like they're just they're in a position to
catch up so fishing expeditions trying to drain our brains and figure out like how they can
leverage it you know and that's validation at the end of the day too it's competition
and it's validation so it's a good sign but we must stay vigilant yeah it's a community thing so
that's the one thing about crypto uh whether it's nfts d5 or just normal cryptocurrency assets
community is everything community over cloud right uh what do you see are some of the challenges
for communicating the value of the metaverse to the average individual
i think uh communication is so important in crypto in general is taking something very abstract where
it's the intersection of everything people don't understand about the internet with everything
people don't understand about money right and then putting it all together and explaining it
so when it comes to the metaverse i don't even say want to use the word metaverse i just want to say
what is your digital profile like and how do you understand that metaverse is just like a
catchphrase a sexy term especially for investors like big data or machine learning or whatever
right so it's just like you know what people don't care about terminology they only care about how it
affects them in their daily life has affected grocery shopping how does affect their spending
how does it affect their time with the people they love and you have to talk to them on those terms
not using crypto terms yeah that's a great way to put it uh basically translating are you know
they look at it as fancy mumbo jumbo words it's it's a language that they haven't learned yet
so using their words that that's great that's a great advice honestly speaking so to the viewers
at home you know you want to get your friends your grandmas your cousins onto crypto you know start
communicating in the language they they understand right so it's all about communication so
what do you think about this do you believe that one company can own the metaverse why or why not
oh i think that's a dangerous road actually so to me metaverses by definition have to be open
access and available for anyone equal opportunity is what we're trying to create with this movement
so if we allow one company like meta or any other large game company to monopolize
a metaverse it really just is them recreating their same walled garden that they may already
have for their business model in this new form and to me it's almost a form of trickery so
um i don't believe that metaverses should be closed and really the point like you brought
up william quigley the co-founder of wax he makes a really good point that the tech lords are feudal
lords or the tech companies are feudal lords and they essentially can ban everyone arbitrarily or
you know they can figure out reasons to basically kick you off their platform
the point of all this metaverse stuff is to prevent that from being possible to put the
ownership of the economy in the user's hands so basically i don't think one company should own
a metaverse i don't think we should allow them to co-opt that term either okay uh and i like that
that you said that as well too uh the the co-opting of the term is uh it's a very sly way
of getting people to think that the metaverse is them right so that's that's a good way to put it
uh what would you say are some of the the current issues that everyday average person faces when
getting onboarded into d5 got it so uh d5 or decentralized finance while very cool and very
innovative the major major problem which we have seen users face is uh i mean communication uh when
you are going into d5 and its user experience as well like just think about it you are into d5 you
take a loan it gets liquidated you are not uh able to know about it and uh when you are into uni swap
or into trading again uh if you are forming a lp pool that lp pool range will fall out and
you won't get to notify about it or get to know about it well the good thing is that this these
problems they are now going to become a problem of the past very soon because whether it's uni swap
whether it's our way whether it's speaker dao whether it's uh uh trufy i mean or alpha hamara
we are working we at epns are working with all of these projects and we are essentially delivering
these communication uh back to the users yeah communication is key and uh especially when it
comes to like you know building communities in crypto if you don't communicate the community
has a big problem with that right so that can solve a lot of problems there with communication
what are what are some some challenges that you know the everyday average person faces
when getting onboarded into d5 the biggest challenge honestly right is like one of the
biggest challenges is what purpose does deep fi serve and how do you actually navigate that world
deepa is not easy to navigate it's not like it's not user friendly the risks aren't always clear
you know like even if you see like an eighty thousand percent apy the question is like what
is your api coming in is it a token that the value is gonna hold or is it going to collapse
because then it's like you didn't actually get value there or like are any of the tokens you're
holding like what's the underlying value and how does that overall work so that's not always clear
the other piece too is you know thinking about like what use case does d5 serve for the everyday
person you know like you have these things around apy and returns and stuff like that but you know
like it's also you know like borrowing and lending like can that be used for an everyday
purpose or not really so you know an example is let's take something like ave which is like
your biggest like borrow like one of your biggest borrowing and lending protocols
but if i want to borrow anything on ave i have to post more collateral than i actually have so it
means you know for an everyday user like when we think of traditional retail market borrowing and
lending it's not really possible uh and so i think that's like another piece to think about the other
really really challenging piece for an everyday person is the on-ramp and off-ramp right like
going from crypto to fiat back to crypto that is usually one of the biggest challenges especially
in emerging markets where you know like we can say oh it'd be great like you know your financial
infrastructure like the financial infrastructure in a country or in a region is not particularly
strong crypto can help the problem is how do people actually get access to crypto and how
do people go from crypto to real world very very difficult and that is something that i
think is going to take a lot more work that we're going to have to spend a lot more time
actively and physically really going to those markets and building out